EUR/NZD reversed from resistance zone

20:18 25.07.2018

EUR/NZD reversed from resistance zone

Next sell target - 1.7000.

EUR/NZD recently reversed down from the resistance area located between the major resistance level 1.7330 (which stopped the sharp uptrend at the end of 2017, as can be seen below) and the upper weekly Bollinger Band. The previous reversal from this resistance area created the weekly Japanese candlesticks reversal pattern Shooting Star. EUR/NZD is expected to fall further toward the next sell target at the next round support level 1.7000.